Food Tech Startup Bueno Raises $600k in Pre-Series A Funding

Bueno, a Gurgaon based food tech startup has raised $600k Pre-series – A funding from an undisclosed angel investor. This is the first funding received from external sources.

This initial funding will be used in talent acquisition, technology up-gradation, data-analytics, operations, footprint enhancement and marketing. It will also focus more on physical operations, customer relationship management, supply chain, building improved and efficient technology platform, expansion within Gurgaon etc. This funding will also help in increasing the number of orders and deliveries by 20x on their platform.

Ramesh Mantri from Ashoka Advisory capital, (Advisor to the transaction) said, ” Food and beverage is a huge sector and almost 80% of it is un-organized till date but is now getting organized with the emergence of new players in this field to exploit and explore the ocean of opportunities”.

The startups’s Android & iOS mobile applications are on their way, which are under testing. The app will provide real-time information on ordering, tracking and delivery of the food. It has also recently launched GPS tracking platform to fasten up pick-ups and deliveries. The website has added features such as account management. Referral & loyalty programs are also in the offing. The other features which are in the pipeline are 24×7 deliveries across Gurgaon, enhanced menu (European, Middle Eastern, Soups, Salads, Breakfasts, Burgers, Sandwiches, wraps, Desserts, fresh beverages, kids menu), catering menu etc.

The two-year old Gurgaon-based company was started by Rohan Arora, Pankaj Sharma, Vipul Arora and Puneet Jain. Vipul and Puneet are two of the 5 Chefs in the company. Bueno also offers customized menus for birthdays, parties, meetings or other large get-togethers at a notice of 24 hours delivered across NCR.

The other players operating in the space are Zupermeal, Yumist, Frsh, Zomato, SpoonJoy, Swiggy and TinyOwl among others. As per BCG report, India’s food market size which was at around Rs 23 trillion in 2014 is set to reach around Rs 42 trillion by 2020.